CSI Compressco (NASDAQ:CCLP) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of CSI Compressco (NASDAQ:CCLP) in a report issued on Sunday. The brokerage set a “buy” rating on the oil and gas company’s stock.

CSI Compressco Stock Up 3.9 %

Shares of NASDAQ CCLP opened at $2.42 on Friday. The firm’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.79. The company has a market cap of $344.85 million, a price-to-earnings ratio of -34.57 and a beta of 0.75. CSI Compressco has a 12-month low of $1.04 and a 12-month high of $2.44.

CSI Compressco (NASDAQ:CCLP) last issued its quarterly earnings results on Friday, March 1st. The oil and gas company reported ($0.02) earnings per share (EPS) for the quarter. The company had revenue of $98.27 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCLP. Jane Street Group LLC acquired a new position in CSI Compressco during the 4th quarter valued at about $26,000. Crystalline Management Inc. acquired a new position in CSI Compressco during the 4th quarter valued at about $29,000. Virtu Financial LLC acquired a new position in CSI Compressco during the 2nd quarter valued at about $39,000. Raymond James Financial Services Advisors Inc. acquired a new position in CSI Compressco during the 3rd quarter valued at about $49,000. Finally, BNP Paribas Arbitrage SNC lifted its position in CSI Compressco by 53.7% during the 2nd quarter. BNP Paribas Arbitrage SNC now owns 70,657 shares of the oil and gas company’s stock valued at $89,000 after purchasing an additional 24,693 shares during the period. Institutional investors and hedge funds own 68.85% of the company’s stock.

About CSI Compressco

CSI Compressco LP provides contract services for natural gas compression and treating in the United States, Latin America, Canada, Egypt, and internationally. The company offers natural gas compression services through low-, medium-, and high-horsepower compressor packages for oil and natural gas production, gathering, artificial lift, transmission, processing, and storage.